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Headland Enterprises provides the following information relative to its defined benefit pension plan. $2,711,300 1,981,800 2,279,800 211,500 46,100 431,500 Balances or Values at December 31,
Headland Enterprises provides the following information relative to its defined benefit pension plan. $2,711,300 1,981,800 2,279,800 211,500 46,100 431,500 Balances or Values at December 31, 2020 Projected benefit obligation Accumulated benefit obligation Fair value of plan assets Accumulated OCI (PSC) Accumulated OCI-Net loss (1/1/20 balance, 0) Pension liability Other pension plan data for 2020: Service cost Prior service cost amortization Actual return on plan assets Expected return on plan assets Interest on January 1, 2020, projected benefit obligation Contributions to plan Benefits paid $93,200 42,400 129,700 175,800 253,300 92,800 139,100 Prepare the note disclosing the components of pension expense for the year 2020. (Enter amounts that reduce pension expense with either a negative sign preceding the number e.g. -45 or parenthesis e.g. (45).) Components of Pension Expense Determine the amounts of other comprehensive income and comprehensive income for 2020. Net income for 2020 is $35,300. (Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Other comprehensive income (loss) s Comprehensive income (loss) Compute the amount of accumulated other comprehensive income reported at December 31, 2020. (Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Accumulated other comprehensive income (loss) $
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